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Reply to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?     
Old 08-30-2017, 04:26 AM   #1
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entrep1776 on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
One expense I hadn't thought about was a CRM subscription.

I'm planning to sell med supps using direct mail for prospecting. Then cross sell final expense.

How much do you spend on recurring monthly/annual expenses?

Things Like:
E&O insurance
CRM subscriptions
Web site hosting.
Dialers.
Quote engines (csg actuarial)
Fax capability.
Internet connection

Trying to figure out What I'll need to spend money on each month.

Seems like some expenses are necessary to just do business like CRM, fax capability, internet connection, E&O, maybe quote engine?

Appreciate if others willing to share what some of their costs are.

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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 10:14 AM   #2
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Chazm on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Back when I started, in 2009, I was hired as the same time as this guy Ed. I got licensed in 2 weeks. It took him over a month.
I just got on the phone and started cold calling, while Ed was worried about what exactly to say on the phone, what kind of laptop he could get, and if he set an appt what apps does he need to have handy. And on and on and on.

Needless to say, Ed lasted 6 months and I still am at it today.

I didn't have a CRM, a dialer, fax capability, quote engines, website etc. I just got out there and sold.

Stop worrying about the nuts and bolts of selling and start selling. Unfortunately you remind me too much of Ed and I think you will be out of the biz shortly after starting.
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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 10:16 AM   #3
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Still analyzing, huh? If you just start selling the rest will take care of itself.
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Old 08-30-2017, 11:03 AM   #4
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sshafran on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
It costs a lot of money.

So go sell some stuff, so that you can pay for it, then dump that money into more marketing. Rinse, repeat, rinse, repeat - you won't regret it.

------------------------------------
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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 11:23 AM   #5
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Chazm on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Originally Posted by entrep1776 View Post
One expense I hadn't thought about was a CRM subscription.

I'm planning to sell med supps using direct mail for prospecting. Then cross sell final expense.

How much do you spend on recurring monthly/annual expenses?

Things Like:
E&O insurance
CRM subscriptions
Web site hosting.
Dialers.
Quote engines (csg actuarial)
Fax capability.
Internet connection

Trying to figure out What I'll need to spend money on each month.

Seems like some expenses are necessary to just do business like CRM, fax capability, internet connection, E&O, maybe quote engine?

Appreciate if others willing to share what some of their costs are.
And because you'll still be asking I'll answer for you.

E&O $40/month
CRM (you don't need it yet) maybe after 100 clients
Website hosting (you don't need it yet)
Dialer (use your fingers)
Quote engine (plenty of FMO's offer it free. I have access from 2 of them)
Fax?? Who the hell faxes anynore? If you need to fax something there are free fax online services
Internet $50/month.
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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 11:29 AM   #6
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Matthew King on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Originally Posted by Chazm View Post
And because you'll still be asking I'll answer for you.

E&O $40/month
CRM (you don't need it yet) maybe after 100 clients
Website hosting (you don't need it yet)
Dialer (use your fingers)
Quote engine (plenty of FMO's offer it free. I have access from 2 of them)
Fax?? Who the hell faxes anynore? If you need to fax something there are free fax online services
Internet $50/month.
I'll just add a little bit here on top of this:

There are Free CRM Options and Paid Options.

I agree that it's good to have these things on your mind, but in the beginning. You normally can't do them all at once. You'll be stuck in this "I need this before I start doing this". Start selling, get some revenue in, then add on some of the "fancy" add ons like a dialer, etc.

Keep your self specific, who to target, which product, etc. Start small, then expand.

------------------------------------
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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 11:56 AM   #7
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axeman462 on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Originally Posted by Chazm View Post
Back when I started, in 2009, I was hired as the same time as this guy Ed. I got licensed in 2 weeks. It took him over a month.
I just got on the phone and started cold calling, while Ed was worried about what exactly to say on the phone, what kind of laptop he could get, and if he set an appt what apps does he need to have handy. And on and on and on.

Needless to say, Ed lasted 6 months and I still am at it today.

I didn't have a CRM, a dialer, fax capability, quote engines, website etc. I just got out there and sold.

Stop worrying about the nuts and bolts of selling and start selling. Unfortunately you remind me too much of Ed and I think you will be out of the biz shortly after starting.
What Chaz said.


www.youtube.com/watch?v=4P785j15Tzk


------------------------------------
David Walls
---------------
Lets not get tired of doing good, because in time we'll have a harvest if we don't give up. ~ Galatians 6:9
  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 03:22 PM   #8
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entrep1776 on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? entrep1776 is the thread starter for: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?

Originally Posted by axeman462 View Post
thanks for the video! I was laughing. Well worth 90 seconds.

As long as I buy leads each week & sell enough to cover costs of the leads I'll make money. If I spend the money for leads, I'll work them while they're fresh.

------------------------------------
If you wouldn't say it to someone in real life, why would you type it to someone on the Internet?

Last edited by entrep1776; 08-30-2017 at 03:38 PM.
  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-30-2017, 06:37 PM   #9
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Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Dont get into the business. You're going to have more unplanned expenses, and then you'll be stuck right where you started, over analyzing again. This might not be the best career for you.
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  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
Old 08-31-2017, 12:56 AM   #10
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entrep1776 on Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
 
Join Date: Dec 2016
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State: entrep1776 is an Insurance Agent from
Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? Re: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE? entrep1776 is the thread starter for: Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?

Originally Posted by GoPokes View Post
Dont get into the business. You're going to have more unplanned expenses, and then you'll be stuck right where you started, over analyzing again. This might not be the best career for you.
I understand the advice on over analyzing.

Why do say I'll have more unplanned expenses?

Seems like lots of agents have been doing this for 20 years. Shouldn't be that hard to know monthly expenses. Saw a thread here for $50/month CRM subscription that I hadn't considered.

I'm not sure why someone would go into business without a business plan that includes monthly expenses.

------------------------------------
If you wouldn't say it to someone in real life, why would you type it to someone on the Internet?
  Reply With Quote to Monthly Recurring Expenses Selling Med Supps & Cross Selling FE?
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